Pandemic woes: People at the Myeong-dong shopping district in Seoul. The recent surge in Covid-19 cases has halted economic growth in the country. — Reuters
SEOUL: South Korea’s economy expanded at the fastest annual pace in a decade in the second quarter, thanks to a pick up in private consumption, though a resurgence of Covid-19 casts doubt over the outlook for growth for the rest of the year.
Data from the Bank of Korea (BoK) yesterday showed gross domestic product (GDP) grew 0.7% in the second quarter, after rising 1.7% three months earlier and matching 0.7% growth tipped in a Reuters survey.
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